FY2024 Earnings Forecast for Paramount Global (NASDAQ:PARA) Issued By Barrington Research

Paramount Global (NASDAQ:PARA) – Research analysts at Barrington Research cut their FY2024 earnings estimates for Paramount Global in a research report issued to clients and investors on Wednesday, May 1st. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $1.13 per share for the year, down from their prior estimate of $1.14. The consensus estimate for Paramount Global’s current full-year earnings is $1.32 per share. Barrington Research also issued estimates for Paramount Global’s Q1 2025 earnings at $0.49 EPS.

Several other equities analysts have also issued reports on PARA. JPMorgan Chase & Co. dropped their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Tuesday, April 30th. Redburn Atlantic lowered shares of Paramount Global from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Finally, Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a research note on Tuesday, January 9th. Ten equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.58.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $12.89 on Friday. Paramount Global has a 12 month low of $10.12 and a 12 month high of $19.04. The firm has a market capitalization of $8.41 billion, a P/E ratio of -85.93, a P/E/G ratio of 0.42 and a beta of 1.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.17. The company’s fifty day moving average price is $11.55 and its 200 day moving average price is $12.89.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. During the same period in the previous year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

Hedge Funds Weigh In On Paramount Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC purchased a new stake in Paramount Global during the third quarter worth about $25,000. Archer Investment Corp purchased a new stake in shares of Paramount Global during the 4th quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new stake in shares of Paramount Global in the 4th quarter worth approximately $30,000. WFA of San Diego LLC increased its stake in Paramount Global by 635.0% in the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in Paramount Global during the fourth quarter worth $39,000. 73.00% of the stock is owned by institutional investors and hedge funds.

About Paramount Global

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.